Despite challenging markets, investment trusts managed to raise a £1.7bn in the first quarter of 2022, the second highest first quarter in ten years, according to figures from the Association of Investment Companies.
The best first quarter over the past ten years was 2021, when there was £2.9bn raised. However, Numis noted that issuance in Q1 was below the 10-year quarterly average of £2.5bn and at the lowest level since the third quarter of 2020. Numis figures are calculated slightly differently from the AIC and had Q1 at £2bn. Differences include that AIC base their data on when shares are admitted to trading, so Greencoat Renewables fundraising of £237m was not included. The AIC also does not include issues from treasury and there are some slight differences in their universes. However, by a...
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